The U.S. Army awarded Raytheon Company an $85.3 million contract to produce tactical Excalibur projectiles for the U.S. Army, U.S. Marine Corps and the Australian Defence Forces.

Excalibur, a cooperative effort between Raytheon Missile Systems and BAE Systems Bofors of Sweden, is an artillery projectile that provides precision- strike capability at extended ranges for current and future 155 mm howitzers.

Excalibur is the only precision projectile currently fired from U.S. Army (Paladin and LW155), USMC (LW155) and Canadian (LW155) 155 mm howitzers. The objective Excalibur has a 40-km (24.8 miles) range that demonstrates better than 10 meter-(32.8 feet) accuracy.